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Home My WebLink About2432,~;~.~}~ ~ :i~~,11~ Lenders w~ii!en agreemeM or appiicabie tdw Bc,rrower st~aii ~ay the amoum ul ~~~I mortyaye insu-ance premiums in Ihe mdnnet provi~ed untler ~ardgraph 2 tie-eot A~y amounts d~sbursed by Lende~ pu~suanl to th~s parayraph 7. w~th ~nterest Ihereon. sh;~ll become add~hona~ ~ndebtedness o! Bor-ower secured by th~s Mortyaye Unless Borrower and lender agree to other terms ot payment. such amOUnIS Shall be payable upon nUf~Ce frOm ~enclei to BGrrOwer requeSt~ng payment Ihereol end SheU bear ~n!ereSl trOm Ihe date ot d~sbursement at the rate payable Irom t~me to I~me on outstancl~ng pnnapal under Ihe Note unless payment ot ~meresi at such rate wouid be contrary to appi~cab!e ia~v. ~n wn~ch evem suc.n amounts shaU bear ~nterest at the h~ghest rate perm~ss~bte under appi~cabie iaw. No~h~ng conta~ned m Ih~s paragraph 7 shan requ~re Len~er to ~ncur any expense or take any act~on hereunder 8. Insp~CtiOn. Lender may make or cause to Le macie reasonable entr~es upon and ~nspect~ons ol the Properly. prov~ded that lender sha~I y~ve Borrower not~ce pnor to any such ~nspect~on spec~tymg reasonab~e cause iherefor reiatecf Io Lenders ~nterest m thz Prope-ly 9. Condemn~tion. The proceeds ot any award o- cia~m tor qamages Uuect or corisequenhal ~n connect~on w~th any condemnat~on or othe~ tak~ng o! the Property. ~r part ihe~eot or tor conve~ance m heu of CondemnaUon hereby ass~gned and shatt be pa~d lo Lender. In the event ot a total taking ot ihe Praperty. me proceeds shaU be appi~ed to Ihe sums secured by Ih~s Mortgage w~th the excess, if any paid to Borrower tn the pvent ot a part~ai tak~ng ot the Property uniess Borrower and Lender othenwise agree ~n wnling, the:e shali be appl~ed to tne sums secure~ by ~h~s Mortgage such proport~on ot the proceeds as ~s equal to Ihat pro~ort~on wh~ch the amo~nt ot the sums secured by th~s Mongage ~mmed~ate~y pr~or to the date of taking beais to the tau market value of the Property ~mmed~ate~y prior to the date ot tak~ng. w~fh the Da~ance of the proceeds pa~d to lhe Bonower. It the PrOperty ~s abandoned by Borrower ur ~f. ~tter not~ce by Lende~ to Borrower that the co~demnor oflers to make an a~vard or settle a cla~m tor damages Borrower fa~is b respond to Lencler wnh~n 30 c~ays atter Ihe date such not~ce ~s ma~led. Lender ~s authonzed to cof~ect and appiy the proceecls at Lender s opbon. e~tner ro resto~ahon or repau ot the P-operty or to the sums secured by th~s Mortgage. Unless Lender and Bor-owe- otherw~se agree ~n wnt~ng. any such ap~t~cahon of proceeds ro pnnc~pat shal~ not exten~f or postpone the clue clate ot the month~y ~nsta!iments rete-rec~ tu ~n ~~arayrapt~s ~ and 2 hereuf or change tr~e amount ol such ~nstallmenis 1 O. Borrower Not Released. E xtens~on ot ihe time for paymenl or mod~t~cation ot amort~zat~on ot the sums secured by th~s Mortgage g-anted try Lender to any successor m~nterest ot Borrower shaft not operate to release. ~n any manner, the hab~I~ty oi the ongmal Borrower and Bor~ower s successors ~n ~nterest. Lender snali not be reqwred to commence proceed~ngs aga~nst such successor or retuse to extend t~me tor payment or otnerw~se mod~ty amort~zat~on ot the sums Secured by tn~s Mortgage by !eason of any demand made by the or~g~nai Bonower and Borrower s 5uccessors m~nte~est. 11. Forbearance by ~ender Not a Waiver. Any lorbearance by Lender m exerc~s~ng any f~ghS or -emedy hereunder. o- otherw~se afforded by apphcabte ~ativ shali not be a wa~ver ot or preci~~e tne exer~~se of any such nght or remedy The procurement oi ~nsurance or the payment of taxes or other I~ens or charges by Lender shalt not be a wa~ver ot Lender's nght to accelerate the matw~ty o! the ~ndebtedness secu-ed by trus Mortgage 12. Remedies Cumulative. An remed~es prov~ded ~n th~s Mortgage are d~stmct and cumuiative to any other right or remedy under th~s Moitgage or attorded by iaw or equ~ty and nzay be exe+c~sed concur~entiy, independentiy or success~veiy 13. Successors and Assigns 6ound; Joint and Several Lisbility; Captions. The covenants and agreemenis herem contamed shall b~nc7. anci !he nghts hereunder s-iail ~nure to the respectrvP successors and ass~gns of lender and Borrower. s~b~ect to tne prov~s~ons ot paragraph t 7 hereot Atl covenants and agreements ot Borrower shall be ~o~nt and severat The capt~ons and head~ngs of the paragraphs ot ih~s Mo~tyaye are for coven~ence only and are not to be used to mterpret or def~ne the prov~s~ons r:e~eot 14. Notiee. Except to- any not~ce requ~~ed under app~~cabie taw to be g:ven ~n anothe- manner. Ial any not~ce to Borrower provided for m this Mortgage snati be g~ven by ma~hng such not~ce by cerhhed maiE addressed to Borrower at the Property Adaress or at such other acia+ess as Borrov~sr may des~gnale by nohce to Lender as prov~ded here~n. and Ib! any nohce to Lender shati be g~ven by certd~ed ma~l. return rece~pt reyuested. to Lender s address stated here~n r~r to such other adciress as Lende~ may desi~nate by noi~ce to Bor~ower as provided ~erein. Any not~ce p~ov~ded for in this Mortgage sha11 be deemed to have been g~ven to Borrr.wer or Lender when g~ven in the manner des~gnated here~n 15. Unitorm Mo~tgage; Gover~ing Law; Severability. Th~s lorm ot mortgage comb~nes unitorm covenants tor r.it:p'ld' U~f' d/lU'1t)!?. ~•,~}`.~!fT f,U:f.r~..,tS r1,!!t ~~'~~?F:r: '~d':a'. ~,':~~ (.y ~ufiS(~~~~!~:ir1 ;~i cunsbtul~ d un~}O+fT? ~f?C..~~-.y' ~!151/U.Ti@111 ~o•:Pnng rE~ft ~~tUG)e'•!y ihe s~ate <i~~<~ +(~t <~' '~~:~, d~;;, ~~:.o; ~«• !~ ~!h~; Mortgaye sh,:tt t,e ihe !aws at tr.e ~u!~sd~cnon ,n wh~cn ?ne Properiy ~s ~OCd',FC1 T.^•E1 }GfP~O~~tC) St.n(p•~; t• ,! ,a •,.)~ i•,~~t rr.~. vf)O!!f.3httily'~t !@UE:!dt law to th.s mort~~~~~e -r~ the e~ent tr}at any urovtjlOfl U' C~iUSP ~j} t!~ic 'Jt:.~f:,(~dt~f- ,~ 'ftE' i~:c~ic• ~"'!';C'~ YJ~1r? %j(;j)li~_:_t(~!E'. d'.~ SuC'~ Con!~~CT ShE~~: nnt diteCt t~thPr ~)tUV~ol~)!15 Of !IliS ~:~~i''(~.i(;f~ :;r rn~. i.jV~~' Y:!'ii'h ~ :S'~ .~~• a1~.~.~, ,.!~~„ ' t:~ih:iu' rr~1• , (~'1!~1(_1t!?t) Ut0'liS:iln ~enci !f~ !h:S a'll! 1hF: ;~~OV~S~OnS Ot IhF~ (~~~..r(~<a;~e~ ,f'. . r.,~. (,i;:'~~ .v~~• . ~ ~.~~- : . . F• -_". ,it,:t~ 16. Borrowe~'a Copy. B~rrower snau t;e furn~she~i a contormed copy ~t tne No!e and ot th~s Mortgage at the ?~me of execuhon or diter recordat~on he~eof 17. Transier of the P~operty; Assumption. 1t a:1 or any part ot the Property or an ar~terest there~n ~s scFd or transfe-red by Borrower w~thout Lenders ~r~or wr~tten consent exc~ud~ny iai the creahon ot a f~en or encumbrance s;;bord~nate to th~s Mortgage. lb) the creat~on of a purchase money sec~~~ty ~nterest for househoici appi~ances ici a transfer by dev~se descent ~r by operat~on of laH upon the death of a joint tenant or ldi the grant of any leasehold ~nterest ot three years or less not conta~rnng an ophon to purchase Lend~r may. at Lencfe- s cpi~on, dec~are ai! the sums secured by th~s Mcrtgage to be ~mmediately due and payable Lender shali have wa~ved such opt~on to accelerate ~t pnor to the sale or transfer. Lender and the pe~SOn f0 whOm ;he P-operty ~s to be sold o~ t~ansfe-red reach agreement ~n wr~t~ng that the cred~t of such person ~s sat~stactory to Lender an~f that the mterest payab~e on the sums secured 5y th~s Mortgage shaii be at such rate as Lender shall request. I} Lender has wa~ved the opt~on to acceterate prowded ~n th~s paragraph 1 7, and ~f Borrower s 5uccessor in ~nierest has executed a wntten assumphon agreement accepted ~n w+~t:ng by Lender, Lender shaii release Borrower from alt obl~gations under th~; Mortgage and the Note. H Lender exerc~ses such option to acce-e~ate Lerte~E- snai~ ma~i Bo;rower not~ce ~i acceierat~on m accordance w~th paragraph 14 her~of Such not~ce shall prowde a per~otl ot not tess that 30 days from. ihe date the not~ce ~s ma~led w~ih~n wh~ch Borrower may pay the sums declared due. If Borrower fa~ts to pay such sums pr~or to the exp~rat~on of such per~od. Lender may. w~'hout further not~ce or demand on Borrower, invoke any remedies perm~tted by paragraph 18 hereof. NON-UNIFORM C~VENAN TS Bor-ower and Lender turther covenant and a~ree as foiiows~ 18. Accaleration; Remedies. Except as provided in paragraph 17 he~eof, upon Bonowera breach of any covenantoragreementofBorrowerinthisMortgage, includingthecov~nantstopsywhenduesnysumcsecured by this Mortgage, Lendsr prior to acceleration shsll mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the ection requirsd to cure wch bresch; (3) s date. not less than 30 days from the datethe notice is rr,siled to Borrower, bywhich such br.each must be cured; and(4) thatfailure tocuresuch bresch on or before ths dste specified in the notice msy result in accelerstion oi the sums securod by this Mortgage, foreclosure by judicial proceed ing and sale ot the Property. The notic~ shall furtfier inform Borroweroi the right to relnstats aRer acceleration and the right to assert in the foroclosure proceeding the non-existence ai s defauR or any other defense of Bonower to accetsrstion and foreclosure. If the b~each is not cured on or before the dats specified in the notice, Lsnder at Lender's op~fon may declsre ell of ths sums secured by this Mo~tgs~s to be immediately due and payable without further dembnd and may foreclose this Mo~tga~e by judiclel procesding. Lendsr shall be entitled to collect in such proceeding sil expenses ot foreclosure. includin~, but not Ilmited to, reasonable attorney's fees, and costs of documentary evidence, abstacts and title rsports. 19. Borrowers Right to Rsinstate. Notw:ihstand~ng Lende- s accelerat~on of Ihe sums secured by th~s Mortgage. Bo~rower shall have the r~ght to have any proceed,ngs begun by Lender to enlorce th~s Mortgagte d~scont~nued at any time - .~ , ~~:~ e~x346 PAGEz428 ~ a